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around the same product. you still have government supervisors, identical technology, identical procedures, they don't seem to think it's going to save us that much money. so, just a question of whose pocket the paycheck is coming out of. >> it's not only saving, it's improving efficiency. privatization bet center >> hand it to the airlines. if american airlines doesn't protect its passengers it goes out of business. if the tsa doesn't protect the passengers it gets more funding. we have an incentive problem. in the private sector you are forced to do better. in the government you are rewarded. >> bill, do incentives matter here as they do most places? >> maybe but i say no, don't give privatization a bad name by assigning it an activity which is an expensive mess no matter who undertakes it. i would rather have john and steve use their powers of persuasion and libertarian instincts to apply to another need. privatize elementary schools. >> a subject for another conversation. we'll have that conversation. mike, by the way to clarify to, the tsa denied wrong doing with this marin
the federal government can hire millions of people to make this legislation possible. it's idiotic. they should break it around started all over. >> eric: and remember when president clinton said that it would not add to the debt and now it's trillion dollars? >> it's amazing people hate so much of it. let's note the american people when asked about the specific provisions in the affordable care act actually like it. they like tax credits for small insurance and closing the medicare loopholes and 80% of like those things and less than 50% know they are in the bill. >> let's talk about why this is going to kick in. eric they purposely wrote this thing, once it is in all the crappy things come out. knows what is going to happen to medicare costs and medicare or anything like that. good luck trying to find a doctor or nurse. they did this in purpose. they bam, smacked you with this. >> eric: that 80% of the people are okay with this? >> are they going to be okay when their premiums okay when they rise 100%. honestly this is birthday party, take this birthday present and bring it back
. this is a big government tax grab that we will debate. >> speaking of taxes, guess who is not paying them? more and more federal workers are tax cheats. why shouldn't tax cheats just be fired? it's that easy on the "kudlow report." and we begin right now. first up tonight, the cyprus crisis continues. riots are forming in the streets. cnn's own chief international correspondent michelle caruso-cabrera is with us tonight. >> cyprus is going to do something that's called "resolving a bank." like all tough things in life, we use euphemisms. tonight the head of the central bank has asked parliament to give him permission to give him new powers of resolution authority. what he will do with that resolution authority is he will take cyprus's most troubled bank, he's going to take the good deposits in that bank and move them to another cyprus bank. the bad deposits, the bad loan, the junk that's in laiki bank will remain as a stub and those assets will be sold off over time. first, it's going to get them a lot claeser to the $5.8 billion they need to come up with. the other key point, people under 1 hu
. the cypriot government says the country's parliament is unlikely to pass legislation which would impose a tax on bank deposits. lawmakers are set to meet and vote on the levy which has been set on a condition of the eu bailout. meanwhi meanwhile, the german finance minister has rushed to the defense of a highly unpopular tax. the move was necessary to keep cyprus from sharing in the burden of a eu bailout. and uncertainty over the outcome of the vote in nicosia continues to weigh on markets. cyprus said its stock exchange will trading until thursday. cypriot banks have been placed on negative watch. carolin roth is reporting now for us. the latest we're hearing is that the vote may not happen today. what can you tell us? >> absolutely. there are a lot of moving parts still, kelly. this is a very fluid situation. the vote is scheduled to happen at 6:00 p.m. local time. there has been no official cancellation on part of the government. but, again, a government spokesperson at the same time also saying that it's very unlikely at this point that the vote will actually go through. that is, of cour
, rangery. they're if disbelief over this decision that was struck between the government and brussels leaders on saturday morning. but it's not just the people who are angry. it's also the politicians. many politicians in this 50/60 parliament in cyprus have said they would reject the bailout package because of the hugely unpop already deposit tax. press reports indicate that up to three parties could be volting against the bailout deal, which will be voted on in parliament later today. that's the debate and the vote are expected to kick off around 4:00 p.m. local time. so what the president is trying to do at the moment, he's trying to pure swede the members of parliament that this is the only solution going forward. if they vote against the bailout deal, the only alternative is bankruptcy for this country in the next couple of days. but it's going to be very, very crucial for the president to strong arm the other members of parliament into a positive decision on the bailout deal because at this point in time, he does not have a clear majority in parliament. he only has 20 seats. and
. >> and we have the stumbling blocks in the deal to sequester the government spending cuts but first the look at how the overseas markets fair fared today. >>> on wall street, more red than green in the stock market and some losses in the oil patch as well. >> that's where we begin our market outlook tonight. the company's ceo expects negative pricing press neuer several airs. looking at the stocks, down almost 4 percent. other drillers almost got hit. neighbors and hall burton down as well. leading the s&p gainers today. jcpenney the retailer got a positive report from an analyst at oppenheimer because of the new joe fresh shot. but says pennies needs to work through its problems. >> as ttrazenika reported a big drop. and forecast continuing difficulties with competition from generic drugs. shared traded in new york were down slightly at 46.18. >> and after six year on the job, electronic arts ceo offered his resignation during the tenure. the stock dropped more than 60 percent. he said in a memo revenues will be at the low end of his earlier guidance and was accountable for it. shares were
into the sea of japan today as the bellicose rhetoric of threats from the dprk government intensified. the defense secretary ordered missile defense on the west coast to be reinforced. fourteen additional icbm@ interceptors readied for use if needed. at the state department is finally revealing the number of americans who were in a line of fire during the benghazi terrorist attack. and the extent of those injured. six months after the september 11th attack. the latest for you. tonight we begin with the end of the wall street winning streak. the dow jones industrials finishing in the red today after posting a string of eight consecutive record high closes. ten consecutive winning sessions for the dow. the dow dropping 25 points today. the s&p lost two and a half. the nasdaq fell nine points. but for the week, all three indexes posted gains. the dow jones industrial of 117 points since the opening bell monday. the s&p picking up nine and a half, the nasdaq up five. the wilshire 5,000 measuring the paper gains for the entire market for the week at $1,205,000,000,000. and the total market
that the government bonds won't be touched. so at the end of the day, it's completely different in respect of what's happening. >> the keeping is whether the read through -- what the principles -- when draghi said we'll do whatever it takes, they will do whatever it takes, including rewriting the rules, ignoring democracy, whatever it is, we will do whatever it takes. >> we started at the beginning of the crisis, no? whenever you need something, you do it. and despite it being difficult or anti-economical or not really democratic, it's going to be taken to try to save what is -- what looks to be good for the country. >> plenty more to come from you. meanwhile, let's just remind you what's happening in the asian session. they were trading on the way up to this cypriot deal. li sixuan has more for us out of singapore. >> thank you, ross. nice to see you. the cypress deal in brussels spelled relief for most asian bourses with the japanese market leading the charts. and the nikkei 225 rebounded 1.7% after the 2.4% drop last friday. financials made a comeback with exposure in europe. also got a boost w
. >> lawmakers in the house and senate approved legislation to fund the government through the end of september. that avoids the risk of a partial federal shutdown. in the process, they are on spring break for a couple weeks. what's your take on this? >> my take is the whole financial dysfunction of our congress is mind blow iing. you look at this week. let's say frederick, maryland, where there's air traffic control that will be shut. a tower that was built by the stimulus money. so stimulus money went into this tower. the government saying it's a priority. and the the government because of its dysfunction saying we have to shut is down. that's a perfect representation, i think, of how washington is not doing its job. we can't even pass a budget. it can't even run the books. there's no strategy. when you look at some of the spending cuts, you see a lack of a strategy in american finances. >> complaining about this for months. when i say fedex, you probably think of the guys coming to deliver a package. fedex as a gauge of the global economy. fedex posted its third drop in earnings and raised r
out with big gdp figures but i don't believe those figures because they come from the government but when you hear specifics from caterpillar saying they have had a drop of 26% in slowdown of sales in china seems to me to indicate a slowdown over in china. >> well, that is exactly what everybody is waiting to hear about. those infrastructure plays, the material plays are so critical. you kind of had a tippoff when you started looking at some of the industrial metal activity especially copper. that is one of the those little canaries in the coal mine as you saw it there could be a pullback and going into earnings announcements with names like caterpillar. there was a little bit of a flag that said, hey, we could be seeing some misses. david: thanks, joe. lauren: thank you so much. stay with us. we'll come back to you when the s&p futures close. david: let us bring in our market panel. we have brian gendreau and guy labad. thank you, gentlemen. good to see you. brian, i want to go to you first. you have background in the federal reserve yourself. what ben bernanke seemed to be tell
-- what caused concerns across europe and across the world. and i think the cypriot government understands that and i think the international community also needs to understand that in the way it's intervening in cypress. we should not let what is clearly a very big problem for cypress become a big problem for europe. >> ross, it doesn't necessarily seem his counterparts are doing anything to resolve this issue right now. but also, it didn't exactly look like westminster there. it looks like he was standing on the back porch or something. >> i can't actually see. i don't know which shot you can see. but, yes, big ben should be behind me somewhere. >> i meant behind george osborne. >> sorry. where i interviewed george was in the media center which is just down the road from the house of parliament. that's why. i didn't know if you were talking about my shoulder or that with george. that's where the journalists go and have breakfast. >> did he, ross, during that brief interview that you had with him or afterwards, express there needs to be more of a sense of urgency as far as britain is conc
people's bank accounts to pay back the government debt. can you imagine if our government tried to do ha? they are working on a last-ditch effort to bail out cypress, as european stocks plunged. there are concerns. u.s. investors watching for a deal, hours before our markets open in the morning. on the table in cypress, a possible tax on bank deposits and austerity measures that could result in the loss of thousands of jobs. that has sparked a protest. welcome to a brand-new hour of america's news headquarters. >> jamie: good to see you. good morning, to all of you. it happens that time is running out fast in cypress. if they can't reach a deal, the european central bank will stop providing emergency funds to cypress after monday, triggering a collapse of the country's banks. greg? >> shannon: hey, jamie, eric. it is crunch time here in cyprus. the economic fate of the country could be decide in the next several hours. all of europe and the united states is watching. the action rate now is in brussels. officials are meeting with the top brass at the u.u., the european central bank. they
taxpayer dollars funded that video. this, of course, weeks after another government agency, this time, the usda had a video teaching college kids how to use a microwave. since the sequester, washington agentedded like a 2-year-old throwing temper tantrums making big spectacle cuts. looking like stopping the federal government from spending money is harder than keeping the snow from falling. cut out the spending on junk. that's my two cents more. that's all for tonight's "wig liz report," and thank you for watching. if you can't catch us live, don't forget to dvr the show. have a great night. ♪ lou: the tie any island nation of cypress is safe for now. the last effort to bail out and save its economy, but the solution that has bank depositors and investors everywhere now nervous. the largest banks are taking up to 40% of all bank deposits more than 100,000 euros or $129,000 or higher leaving smaller deposits untouched. optimism over the deal initially pushed the s&p 500 to within a point of its all time high of 1565 in early trading. stocks told off the cypress bailout is a template
's a holiday here on monday. that would give the government five more days to either get money out of russia or come up with some other way to solve the math here. remember when the end game is. this country asked for 17 billion euros from other european countries and they said we're not going to give you that much. we'll only give you 10 billion euros. we'll help you out with recapitalizing the banks but you guys have to come up with nearly 6 billion on your own and really the only place to get it is in deposits. we saw the parliament reject that last night. here's the one piece of insight that i can give you since being on the ground here. overseas everyone was aghast that would try to tax insured deposits. the vast majority of the cypriots we talk to are aghast at the concept of taxing any deposits even the wealthy. they see it as an attack on the business model of the country. and they don't want that to happen. where do you come up with the money is the question? guys, back to you. >> so many different angles as we go on. they'll take an american credit card. you're using credit cards a
the reported 10 billion euros. he said the number has been exaggerated by the communist government, the former communist government. the officials are saying the imf nor the ecb has independently verified this figure. tyler, i have a call in to the imf. i'm awaiting their response. >>> 40% of the deposits in the cyprus banks belong to foreigners. many of whom are russian investors. robert frank here with the fallout on this. i guess it's easier for the cyprus officials to say let me take the money out rather than lay the whole cost of this bailout on cyprus' taxpayers. >> but the way they did it is surprising. cyprus is not just a tax haven for russia, it is the tax haven for russian millionaires and billionaires. russia has invested $119 billion, that's with a "brks" in cyprus in 2011 alone. that's by far the largest recipient of russian investments in the world. equal amount of investment came back to russia from cyprus. funny how that works. russian investment is five times the total economic output for cyprus. russians account for $20 billion of total bank deposits or, tyler, as you mentio
. what i'm saying is from a government perspective in russia, addressing this in a broader issue and not just capital flight, do russians want 120 going out and 130 going back in. it underlines the fact that putin doesn't control a lot of money going out of the country. >> that's a good thing. it's a capitalist society. the situation between russia and cyprus is partly rich russians using cyprus. that's one thing to say. the second thing is the way russian companies are structured is the legacy of the fact that 10 or 15 years ago russians wanted to do business with the world but their own structures were so underdeveloped because they were so young because they had to use russia and they had to use cyprus. it isn't sustainable in the medium term. more and more of the market is coming back offshore. a major initiative to make moscow an international financial center. apart from that, you have to look at the diplomacy of this. it looks as if the deposit grab is being deliberately designed in order to tax russian companies and relatively wealthy russians. about a third of the deposi
, but maybe he wants to us think he just might. that question was never posein the u.s. government or the cia, despite very smart people theyci have there. >> rose: then they launched thele invasion, and was immediately successful.an saddam went into hiding.dd what happened in the days after that, that made, for most of us looking at it, and for most analysts-- and you included -- serious mistakes?ys >> well, i was there for that part-- this enterprise as an embedded correspondent, both in the command and on the ground.on and the expectation was-- theth americans essentially fought last war. they fought the 2003 war as if it was an extension of the 1991x war. they thought you defeat the republican guard pup go to-- you defeat kind of the conventionali forces. and then war is done, and we're finish people say there wasn't a plan. there was a plan. it was to hand over as quicklyan as possible to the iraqis themselves to take out driver, put in some new drivers into the vehicle, and let it go down the road. >> rose: that was rumsfeld's theory. >> it was also condi rice's. the institution would h
government debt. we'd have a $15 trillion balance sheet. if you want to bet on that, nathan, bet on that. i'm betting on 320 million people doing what people do as they age. they spend less money. the fed's going to only have to stimulate more and more. >> really. the american consumer is fabulous, harry. >> $2 trillion of stimulus, nathan. >> you could have a $2 trillion mortgage on your house if you can afford to pay the debt right now. you're not going to be going bankrupt any time soon. >> nathan, i want to talk to you five years from now. you are crazy. people in a bubble, they never see the bubble. they sit there and say it's fine until it bursts. >> harry, some day the star is going to super nova. if you predict it long enough, in 450 million years you're going to be right. you haven't had a prediction that hit yet. >> we've already had a crash. the government stopped it. that didn't happen in history. let the government keep doing this. they will keep it going as long as they can. >> we didn't have it. >> they will fail. they will fail. i will make that prediction. >> you'll never m
. trying to come to terms on keeping the government running. they want to get out of town. connell: one of berkshire hathaway's is here with us. dagen: twitter. seven years old today. happy birthday. connell: happy birthday, twitter. we have the money story behind the games and how it is torn apart. those stories and a whole lot more coming up on "markets now." ♪ dagen: it would also be one of the most famous racecar drivers birthdays of all time. it is top of the hour. nicole petallides is on the floor of the new york stock exchange. nicole: i have to tell you, the markets are pulling back. we hit a record all-time high on the dow jones industrials. only to see us pulling back today once again. the dollar remained higher today. the nasdaq remains down .8%. the dow and s&p are down about .5%. yesterday, we saw a broad-based gains. most of the names were higher. today, we are seeing much of the same. it is the other way around. most of the dow components are lower. ibm, hewlett-packard, intel, a lot of the attack names are leading the way to the downside. connell: going to breaking new
of a compromise before the deadline march 27 to avoid having a government shutdown. dagen: rich edson with the latest. rich: a number of different budget pieces coming into play on capitol hill. congress has to pass a spending measure a week from today. if they don't do that, the government shuts down. we can expect perhaps maybe by this evening the senate will do that and send that back over to the house. congress is set to go to congress next week so they have to get this done to avoid the government shutdown. the house has a budget, the senate has one, the fiscal year starts on october 1 to the ideas the house and senate will pass their budget in the next coming weeks and perhaps in the next coming years we could actually have a budget conference. negotiating one entire budget for the federal government was still working on the same old partisan divide. >> we are all concerned about the impact of the budget cuts. they are senseless and they are ridiculous, we should do away with them. >> the plan we're seeing from the democratic leadership is a failed plan for america. it does not
to go. they want a yes or a no. charles: we have already scene when you have these giant governments, these welfare mentalities, it will cost the average person. we saw it in california. the bottom for everyone to understand is when you have these giant governments, it will cost everyone. that is a true story. it has already happened here. stuart: up until now, if you lend money to a government or a bank with a bond issue-- now cyprus is introducing something different. everybody pays for the bailout that is the difference here. that is the switch that cyprus brings to us. we are now out of time. the dow is up 14. it is a state of flux. let me give it to you, dagen and connell. dagen: wing all or some of your money, i think most people would choose some. connell: thank you, stuart. good morning, everybody. i am connell mcshane. dagen: i am dagen mcdowell. how you can profit. that is straightahead. connell: bracing for a retirement crisis. will lose share problem is a share problem. we are talking about lulu lemon. that stock is lower and it is all because of some see through yoga pan
's going to give the government, they hope, time to recapitalize the bank. that's a long-winded way to say pitch the bank. put a lot more money in them so they are stronger. not until tuesday because it happens to be a holiday. >> michelle, this is suzie. what do you think could happen on tuesday? there's been so much pent-up anxiety, what happens when those banks open? >> well, it all depends on what happens over the next four days. so cyprus rejeblcted the first idea and they try to raid a pension fund to come up with money to meet the requirements of the bail out from the european partners. now that all of those things have happened, they face two choices. they need to shut down some banks that are very, very weak. or they're going to have to leave the euro. that's the choice they face. and depending on which one they make, that's what's going to happen on tuesday. >> michelle, how did the banks in cyprus get so bloody. is it really traceable basically to the fact that it's a kind of "don't ask, don't tell" kind of banking culture. >> well, certainly, this is a place that advertised dis
that to fixed income certainly in government space so we like equities and we like global equities. it will have to be a multi asset strategy which is kind of all of the above. looking at commodities and debt and equities and looking in companies in europe. there are good companies with strong balance sheets in europe, as well. looking into russia, indonesia, malaysia. so it is not so much a risk on/risk off. if i can jump off an earlier point which is fantastic which is the expansion we see the fundamentals have not changed a lot. that allows us to be a little more flat until the end of the year. sentiment is a very powerful thing. sentiment as momentum picks up people become more confident and like stocks that can be rather strong. we are looking at that right now. so bonds are being sold to finance equities that would change the dynamic and we have to revisit our estimates. >> thanks so much. >> thank you. >>> and coming up we will get more specific and find out which stocks this week's market monitor likes. >>> more warnings that investors should get out of bonds. billionaire investor says i
, you're buying a bet that is secure, as we saw the government took some of that away in the financial crisis here in the u.s., the backdrop of our racing a little? >> it certainly shows up in the various qualitative measures that are in here when you ask about how secure is the credit structure, shows up in those measures and the u.s. dropped. david: finally, i assume if they eventually go ahead and confiscate the bank deposits we would at least be above them, am i correct? >> we would be above them, they would drop substantially. david: great to see you, regulations on the report. lauren: sometimes the road to opportunity takes you through other countries. up next, focusing even deeper into the emerging market and the publicly traded companies that stand to make money off of them, money you could be making. stay with us. investor. yeah, i'm a serious investor but i'm busy guy. it used to be easier but now there are more choices than ever. i want to know exactly wh i am investing in. i want to know exactly how much i'm paying. i want to use the same uff the big guys use. find out why
what the government vertical did. clearly, we had the sequester late in the quarter. that could have had impact on numbers. it's about 10% of revenue. we'll be looking for some color there. hardware revenue has been disappointing. i think seven our the eight last quarters. that certainly weighed on total revenue. we're projecting growth to get to positive levels in q1. we'll certainly want to get an update there. and the license revenue is a bit of a miss as well. so we'll be looking for more color on the government side. >> go ahead, jon. >> something i do want to mention on epps, it's technically a 1 cent miss, avenue cents when the street was looking for 66 in non-gaap. through there is a currency impact. oracle saying that constant currency, it would have been 66 cents. but, again, many analysts have factored some currency in to their 66 cent estimate. so i'm not sure how much of that matters. >> well, i think that's a good point, jon. but i guess what ai'm focused o is revenue. >> yeah, particularly new license and hardware. >> right. >> particularly new license and hardware. i
's employees will be gone. where the red assets are going to the bank of cyprus. the government spending cuts will have to come along with tax increases. this deal still hurts. >> i do not think there is any denying that the cyprus people will have to go through tough times and will suffer the consequences. we had to adjust over relatively a short period of time. rich: now the question is what does this mean for the rest of the euro zone? this, the bailout should be a template for the rest of europe and banks should be reduced. back to you. connell: rich edson lives in cyprus. trading halted in some of those italian banking stocks also added the comments in terms of a template. time to bring in axel merck. your thoughts? >> good morning. when someone screams fire, you do not want to shut the accident. halting stocks, i do not think, is helpful at all. i think it is rather responsible. the question is what will happen. obviously, investors are taking action. connell: you just look at the big board here in the united states and the green at the beginning of the day has now turned red. european
have been really concerned with what's going on, with a government that buys 1.2 billion bullets, hires 16,000 new irs agents, a government that's spent a trillion more than they earn than brought in, it doesn't help. the people in this country who are afraid of losing their rights and liberty, it's scary. stuart: i want debt center stage, and it's not. >> it's not. it should be. it might be likely limited, but it shows there's nothing above political meddling. what used to be taboo is your deposits are safe from taxation. stuart: the time is up, butdagen, connell it's yours. connell: thank you, sir. dagen: if you bail out those depositors, why shouldn't they have to pay something for the bailout? just asking. connell: whole hour to talk about it. connell: good morning, stuart and company told you the bad news from europe is back, and the $13 billion bailout in cypress. they want to pay for it by taxing people's bank accounts. dagen: the president will announce his no , nominee for s secretary. another looks at a man's record over at the justice department. connell: the cyber threats,
on government oversight' says that when employees leave big banks for government service, those banks often provide those departing employees preferential financial treatment. the study says that "in exchange, the companies may end up with friends in high places." well, for now, a government shutdown has been averted in washington. the house has approved a temporary spending plan to fund the federal government until october. president obama is expected to sign the legislation soon. meanwhile, $85 billion in federal cuts continue to take effect. 1 million federal employees still face unpaid time off. also in washington, the house has approved representative paul ryan's controversial budget. through $4.6 trillion in spending cuts, the bill aims to balance the federal budget in ten years. it would repeal the affordable care act and turn medicare into a voucher program. house speaker john boehner said ryan's budget helps balance the federal budget. "the american people overwhelmingly support balancing our budget, a budget senate democrats are considering never balancing. that means more debt, f
the deadline for cyprus. one spokesman for the cypriot government saying the next few hours will determine the future of his country. a couple of consumer reads, popping pre-market on quarterly result the company had in january and nike ends an eight-quarter streak delivering a quarter and the top expectations and shares soaring this morning. for all of you who have been waiting for the z10. the day has come. blackberry available in stores and we'll check in on a store to see how demand is shaping up. >> indexes looking to bounce back after posting their biggest losses in three weeks. wall street keeping a close eye on cyprus where officials are working on another plan to secure the bailout. thises as the mediterranean nation is facing an ultimatum by the central bank. face losing emergency funds for cyprus' banks. this morning the cypriot government spokesman said the next few hours will determine the future of the country. cyprus' finance minister has returned from russia after two days of unsuccessful talks there to reach some sort of funding deal. so that story goes on and it will play
america's a government funded. stocks now, it's back down to the floor of the new york stock exchange and nicole petallides. stocks areeoff the lows of the today but still trending down. that's the sentiment day after the fed, isn't it? >> reporter: right, they are, indeed. we are seeing a stronger dollar, the vixx is to the upside, lori and melissa, and you're seeing a market that has had down arrows all day long. yesterday during the middle of the day we hit all-time record intraday highs on the dow jones industrials, today worries remain about europe, in particular mixed economic news here at home, but the eurozone pmi fell to a four month low. germany's manufacturing sector, well, that unexpectedly contracted, so you do have some pressure on the markets. that being said, we're down about 56 points sitting at 14,454. we do have some winners on the tow that are worth noting. take a look at coca-cola, unitedhealth care, walmart and chevron all posting gains, coca-cola up nearly one cent today. melissa: so some positive economic data out today, initial jobless claims coming in at a lo
.s. delegation. >> there are more than 132 government delegations there in italy today. the vatican says 33 christian delegations or present as well as jewish, muslim, buddhist. well as jewish, muslim, buddhist. >> we will be ri thyou eat less...ing weiyou lose weight.et. it's a great plan... until you get hungry. that's the time to take slimful. one tasty 90-calorie slimful and a glass of water satisfies hunger for hours making it easier to eat smaller meals, and resist snacking. your friends might think you found the secret to losing weight. but it's no secret... it's slimful. eating less is a beautiful thing. >> good morning. the time ms. 4:10. >> some whales are getting very friendly with the voters off the coast of southern california. >> the gray whales were coming right up to the 50 ft. fishing boat and seemed a curious and friendly. the adult whales about 50 ft. wall state alongside the boat for a long time even rubbing up against the engine. >> they were being very friendly that is good news. a very cool video. >> also in the world news a government panel in japan as increase the f
's considered a high biotrirm lab one the report released from the government accountability office does not single out anything. the deal with bioterrorism weapons have not been implemented. the department of agriculture and the centers for disease control monitor the inspections for these labs. the government accountability recommended creating a new single entity to watch over these labs but the federal government says it's not in the best interest of national security to use money and other resources that way. the government accountability office found two main failures with safety and security at some of those 350 labs around the country. we'll dig deeper into those so- called failures when i see you next hour. kyla campbell, ktvu channel 2 news. >>> well, "new york times" reports the cia has been helping arab government send weapons to the syrian rebels. reportedly, cia officers helped arab governments shop for those weapons including a very large purchase from croatia. and "the times" says the cia helped determine which rebel commanders get those weapons. >>> 7:18. lawmakers may b
the government accountability office does not single out anything. the deal with bioterrorism weapons have not been implemented. the department of agriculture and the centers for disease control monitor the inspections for these labs. the government accountability recommended creating a new single entity to watch over these labs but the federal government says it's not in the best interest of national security to use money and other resources that way. the government accountability office found two main failures with safety and security at some of those 350 labs around the country. we'll dig deeper into those so- called failures when i see you next hour. kyla campbell, ktvu channel 2 news. >>> well, "new york times" reports the cia has been helping arab government send weapons to the syrian rebels. reportedly, cia officers helped arab governments shop for those weapons including a very large purchase from croatia. and "the times" says the cia helped determine which rebel commanders get those weapons. >>> 7:18. lawmakers may be closer to passing a new onl
next on cyprus. erin david is "morningstar"'s expert on international banks on the government's attempt to break into individual bank accounts. coming next she tell us the banks to stay away from who are exposed in this whole thing and whether or not it could ever happen here. sandra: and later this hour, we turn our eyes to fashion and the publicly-traded retail tears that mike -- retailers that might make a good fit for your portfolio. ♪ thank you orville and wilbur... ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. david: europe was hit by a financial earthquake with the news cyprus was set to confiscate 10% of all bank profit deposits for a bailout. taking income already earned and taxed seems to cross a line only hinted at by wealth taxes in the past. could we see the co
was fixed. obviously, not. there is the perfect play for gold. when you get a government taking money out of somebody's bank account, you know, in the name of austerity or fixing the bank, that is the perfect reason to go to gold. gold, of course, has been gaining strength in recent weeks on this news, obviously, back over 1600 an annals. we're even -- on amounts, and it's even a bit higher. some say we overplayed it, the markets coming down again. i heard that about greece about 57 times. look at the copper market. this is another interesting market when you look at, you know, the strength of the economy. it's down right now nine cents, a huge move for copper. we're a little bit easier, so it does raise concerns, of course, of how the overall economy's going to do, and that's why the markets are coming down right now on the copper. the industrial matter took a hit. as well as what we see in gold. >> i think, phil, people realize that cypress is a small economy, a small financial system which is why oil is backing up again. >> it is, no doubt about it. they are a small part of the pie, bu
. the eu is offering $13 billion to rescue those banks. but to get it, the government must tax individual deposits held by banks in cyprus. that's the hot button issue. that pushed some citizens to run to bank branches and withdraw as much of their money as possible before those banks were closed. >> joining us right now with insights on this developing story is former u.s. treasury secretary lawrence summers. nice to see you again. thanks for joining us. >> good to see you, maria. >> let me ask you first your read on this. i guess the ultimate question is, you know, how likely is what's happening in cyprus happening -- likely to happen in the united states? but, first, are you surprised by this? characterize how you see this situation in cyprus playing out. >> look, this was a tactical blunder alongside a strategy adrift. the things in europe have gotten better in the last six months. but europe was not out of the woods. there's still much that has to be done both in terms of reform on the financial side and in terms of assuring that there's demand there as austerity is imposed in the de
. that is one way to hedge it. there is more concern on at this time alley -- italy forming a new government. last three years we had the o in the first quarter only to see in april and may a curveball is thrown at us. that might be in the back of traders mind. david: a new government in italy. what a shock and surprise? only happens about twice a year. shibani: a lot of deja vu going on. tim, we'll check in with you with a few minutes to see how the s&p futures pit closes. david: thanks, tim. let's bring in the market panel with ralph and jim. great to see you. happy friday. jim, first to you, no matter what you throw at this market it keeps climbing. do you think it continues throughout the year? are we going to be closing out the year at new highs? >> david, i think we make new highs but i'm not sure we would close out the year at new highs. we'll see a higher market in here, but i think we'll probably consolidate something below that and close the year but it will still be a very good year for the equity markets. as you point out complacency in my experience does not make good investment
with their own sell order what's going on. housing is a big part of the economy but so is government spending. i think government spending is really being ratcheted back here. that's going to be a major focus in the month of april. we'll hear endlessly about government spending coming down. >> the note on oracle this morning, this shows incremental softness in i.t. spending environment. that's weighing on all tech names. ibm is down 1.25%. that's a huge weight on s&p 500 at this hour. a lots of them we are watching in the tech sector. s.a.p. down 2.5%. crm down 1%. it is taking everything down at this point. >> oracle was bad. can't mince words about it. >> was oracle being bad a sign of what's bad in overall tech spending or was oracle bad more of a sign of what's bad at oracle? or both? >> it is a big government provider. dell is, too. that's hurt dell. this was sloppy execution. deliver, deliver, deliver. are they losing share in the cloud? clearly. they won too many nine-figure deals. at the same time the market says i want to buy that weakness. why is lululemon up? they want to buy that wea
the relationship between the members of this troika and whether this body can continue to govern these bailouts going forward. so it includes the imf led by christine legarde, ollie rehn and the relationship between the banks. the relationships looked extremely tense last night, but on their way out, they tried to assure us that there is actually no problem. here is what christine legarde had to say about it. >> would you tell us about the future of the troika with regards to future bailout? >> the troika is doing fine. actually, there are two of us. we're doing okay. thank you very much. >> so, you know, an attempt to look friendly, that was two out of the three representatives. we didn't see mario draghi, although he was present for these deliberations. so at a time when the eurozone has an economy that's extremely weak, where we've just learned that if anything the downturn is accelerating, that the austerity measures haven't succeeded in turning this country around and that there still is no uniform way here of dealing with the failure of these banks or frankly with sovereign bailouts going
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